Didn't Miss Much

Mon, Jan 30, 2012 - 6:58pm

As you probably noticed, I was out all day. I was keeping track of things from afar but it sure doesn't look like I missed much. Don't despair. Tomorrow and Wednesday might generate a little more excitement.

Kind of like last week. I wrote up a blog post last Sunday night expecting all kinds of fireworks in the week ahead. As you know, the fireworks show eventually materialized but it took a little while to show up. Maybe this week will be the same?

You could probably tell from the tone of the previous post that I was expecting a little more downside than we saw today. However, when The Pig failed to get rolling to the upside, the metals reversed and we ended up with an uneventful day. The good thing about days like these is that they leave us with relatively well-defined ranges to watch.

Gold has now spent the better part of three trading days stuck in a $25 range bounded by 1715 on the bottom and 1740 on the top. Interestingly, I don't think that this is the real range. If gold were to break out to the UP side, it would probably be quickly stifled at 1750. If gold were to break down, significant buying should emerge at 1705. So, what we really have is a $45 range, not a $25 range, and $45 (roughly 3%) ranges are tough to break out of. Therefore, I suspect we may stick around here for a while. Additionally, OI continues to contract which leads me to think that, even though gold has rallied $200 off its lows, there still isn't much new money flowing into the pit. In fact, as of the close on Friday, total OI was just 430,159. This is down 3,550 from Thursday and it is at its lowest level since 1/17 when OI was at 425,294. And just a little OIFYI...gold is up almost $100 since then. Hmmm.

Silver has a similar picture. It is 3-day rangebound and its OI continues to contract. Friday night's OI fell to 101,885 from 102,006 and is at its lowest level of the year! All the while, silver is up about 20% on the year. Go figure! There is a mass exodus from silver by the shorts, both spec and EE. This Friday's CoT will be very, very interesting. Until then, let's see if silver can break UP and out of this current range. If it does, it will likely head to 35-35.50 pretty quickly.

Two other items before I go help MrsF with dinner. We all should be watching The Pig rather closely. I keep anticipating some headline-induced bounce but it hasn't yet materialized. Pigatha has been in this nasty down channel for two weeks now with no end in sight. We must watch 79 very closely, though. It may try to double-bottom there and then move up with an attempt to break out of the channel.

And I've noticed a few requests for a HUI chart so here you go. Rather than go small, I thought I'd give you this 2-year chart, instead. Talk about rangebound! Sheesh! The good thing is, IF it ever breaks out to the UPside, we'll sure know it. Then, you can buy miners with impunity. In the meantime, you'll have to remain picky and, to that end, I'll try to give you a complete, individual miner update later this week.

That's all for now. Hang loose, mongoose! TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Jan 30, 2012 - 7:02pm

Yeah, first

Thanks Turd.

Jan 30, 2012 - 7:07pm

Hi Ho Silver!

I just wanted to say that.

Jan 30, 2012 - 7:15pm


You missed absolutely nothing of note today.

The EU vote seems pretty important and the EU gets to tap another round of that LTRO capital in February. The zombie markets will continue to lurch upwards!

Jan 30, 2012 - 7:18pm

And Away!





..... but not away too fast cuz we need more!

Jan 30, 2012 - 7:18pm

tonto's lament

"Get-um-up Scout!"

Jan 30, 2012 - 7:24pm
Dr G
Jan 30, 2012 - 7:24pm

Today was boring, but

Today was boring, but enthused that we didn't see all the downside action Turd anticipated. Turnaround Tuesday tomorrow with a big up move?

Ferd Torgerson
Jan 30, 2012 - 7:41pm

I Got Beaten to the Punch by

a retired rocket scientist and model railroad enthusiast.

Enjoy it, Captain. Hope the cat is doing well.

As usual, thanks, Turd. Speaking of which, it is time to address the care and feeding of our host.

Feed the Turd.

Katie Rose
Jan 30, 2012 - 7:46pm

I caught my 86 year old Mom reading this...

Here's an article that belongs in the Prepare Accordingly category. I caught my 86 year old Mom reading it as she searched the web. I also posted it in the Buying Rural Land/Moving to the Country thread. I think it is that important.

When my Mom concluded this article, she smiled at me smugly and stated;

"We already did that. We moved away from the big city. Now you and your sister need to get serious about learning to shoot accurately."

Here's the article. It is chilling in many respects...

Is Now The Time To Move Away From Major U.S. Cities?

As the U.S. economy falls apart and as the world becomes increasingly unstable, more Americans than ever are becoming "preppers". It is estimated that there are at least two million preppers in the United States today, but nobody really knows. The truth is that it is hard to take a poll because a lot of preppers simply do not talk about their preparations. Your neighbor could be storing up food in the garage or in an extra bedroom and you might never even know it. An increasing number of Americans are convinced that we are on the verge of some really bad things happening. But will just storing up some extra food and supplies be enough? What is going to happen if we see widespread rioting in major U.S. cities like George Soros is predicting? What is going to happen if the economy totally falls to pieces and our city centers descend into anarchy like we saw in New Orleans during the aftermath of Hurricane Katrina? In some major U.S. cities such as Detroit, looting is already rampant. There are some sections of Detroit where entire blocks of houses are being slowly dismantled by thieves and stripped of anything valuable. Sadly, the economy is going to get a lot worse than it is at the moment. So is now the time to move away from major U.S. cities? Should preppers be seeking safer locations for themselves and their families? Those are legitimate questions.


The excellent article continues here, and I think is worth the read.


The Buying Rural Land/Moving to the Country thread is here:



Jan 30, 2012 - 7:46pm
Jan 30, 2012 - 7:53pm


*note 1 ton = 32,150 troy ounces.


" In 2011, the United States produced approximately 1,160 tons of silver with an

estimated value of $1.27 billion. Silver was produced as a byproduct from 35 domestic base- and precious-metal mines. Alaska continued as the country’s leading silver-producing State, followed by Nevada. There were 21 U.S. refiners of commercial-grade silver, with an estimated total output of 6,500 tons from domestic and foreign ores and concentrates, and from old and new scrap. Silver’s traditional use categories include coins and medals, industrial applications, jewelry and silverware, and photography. The physical properties of silver include ductility, electrical conductivity, malleability, and reflectivity. The demand for silver in industrial applications continues to increase and includes use of silver in bandages for wound care, batteries, brazing and soldering, in catalytic converters in automobiles, in cell phone covers to reduce the spread of bacteria, in clothing to minimize odor, electronics and circuit boards, electroplating, hardening bearings, inks, mirrors, solar cells, water purification, and wood treatment to resist mold. Silver was used for miniature antennas in Radio Frequency Identification Devices (RFIDs) that were used in casino chips, freeway toll transponders, gasoline speed purchase devices, passports, and on packages to keep track of inventory shipments. Mercury and silver, the main components of dental amalgam, are biocides, and their use in amalgam inhibits recurrent decay"
Jan 30, 2012 - 7:54pm

Real reason why Ron Paul is ignored by the media!

I know many of you are 'awaken' but others who are on their journey to discovery, this a a great short 7 min video. Also great to use to with our family and friends to help them to wake up.

Murray Sabrin: The Federal Reserve is a SCAM

Thank you Turd and all for your contribution. Turd, I follow your COT and OI reports diligently and it is great to know that as gold and silver prices are going up, the OI is actually going down. This is so bullish for the metals!

I have learned so much here at Turdville. Many of you have spent hours in your research and freely dispersed your vast knowledge on the subject of financial protection. This is by far my favorite site to visit.

A few imparting thoughts about 'financial protection':

Betting against gold is the same as betting on governments. He who bets on governments and government money bets against 6,000 years of recorded human history.
Gary North

Gold would have value if for no other reason than that it enables a citizen to fashion his financial escape from the state.
William F. Rickenbacker

If ever there was an area in which to do the exact opposite of that which government and the media urge you to do, that area is the purchasing of gold.
Robert Ringer

Big L
Jan 30, 2012 - 8:13pm

Holy World Domination Batman!

Ok, here is something I NEVER thought would/could happen.

Just got a recorded phone call from GEORGE SOROS, on my cell phone.

Truth. 7:58pm this evening.

A recorded message urging me to vote for Obama in the next election.


Now I happen to know who he is and what he is. But I don't think he's the kind of house hold name that most people would recognize so why in the world would 'they' use his name and his voice? And who the hell are 'they' anyway?

It's not easy to catch ME speechless but hey. This certainly livens up an evening of Top Gear reruns.

Why would I get such a call? Because I'm registered as a republican voter in the state of Florida? How did he/they get my cell phone number? I don't remember volunteering THAT information.

Anybody else out there get this message? How bout the rest of you Floridians?

Holy world domination Batman!

I gotta admit, this pegs a 10.0 on my weird "O" meter.

I'm creeped out. EW.....

Thought I'd tell y'all cause I was cruising the comments when the phone rang.

Big L

Jan 30, 2012 - 8:22pm

Asian markets...

...are open and PM's are up a bit. Better then down.

How will China's Pan Asian Gold Exchange Revolution​ize Gold and Silver Trading?


Jan 30, 2012 - 8:23pm

Big L

C'mon! Really?

You must be on some kind of list I'm glad I'm not on.....Lol!

Big L
Jan 30, 2012 - 8:32pm

True story

I know it sounds weird, I wouldn't believe it if someone else told me it happened to them.

It's right up there with seeing a UFO, don't you think?

I'm really hoping someone will corroborate. I don't want to be the only one.


Jan 30, 2012 - 8:37pm

What's the Difference Between Gordon Gecko & Mitt Romney?

"One is a cold-hearted corporate raider....


...and another librul fer Ron Paul!

Jan 30, 2012 - 8:38pm

Not much at all....

Nope, not much at all Mr. Turd, some new numbers out of China though...


Jan 30, 2012 - 8:44pm

From Santa Tonight

WTF is this?

January 30, 2012, at 7:37 pm
by in the category Ellis Martin Report | Print This Post | Email This Post

My Dear Friends,

I was interviewed today concerning the most powerful body in the financial world that now holds in its hands the near future of all markets, from currencies to commodities, based on a single edict to be given.

The interview is being processed and should be posted here later this evening.

This organization supersedes all governments and central banks today in terms of the financial power they edict. This organization can have a greater impact on your pocketbook than the FASB did when they killed "true value" accounting.

This body is made up of the key players of the five largest banks in the USA and other countries. This body by their actions this week will guarantee QE to infinity.

This is relevant to all your assets, yes all. If you have the time listen to it please. If you don’t have the time listen to it please. If you don’t listen to it do not blame me when all hell breaks loose six months from now.

Not one word about this body was on the airwaves today, yet this group by a simple decision rules the financial plant. They will be making this edict in just a few days. They have to do it again this year. It is then that you know what will hit the fan.

I feel this is it for jsmineset.com tonight. I do not want to write another word and detract from the revelations you will hear.

Your financial future, even if you have never heard of them, is in this organization’s hands. Check in later for the interview. If you don’t check in your finances might just check out.

Please remember you have been informed of this impending edict as a service to the community.


Jan 30, 2012 - 8:47pm

Probably the DTCC (Depository

Probably the DTCC (Depository Trust Clearing Company) aka the processor of all the swaps / derivatives ;)

Jan 30, 2012 - 8:54pm


Holy Smokes!!!

I've never, ever read that type of sentiment or wording from J.S.

I'll guess and say it's the IMF or BIS. Leaning towards BIS.

Jan 30, 2012 - 8:56pm


....I can hardly wait to hear or read what this is about.

I like bestever's comment on the DTCC.

Time to crack a beer, as this promises to get quite interesting very shortly.

Jan 30, 2012 - 8:58pm
Jan 30, 2012 - 9:05pm

From Santa Tonight

Thanks as always Turd; the go to place for "you heard it here first"!

What now????

Planters TF
Jan 30, 2012 - 9:05pm

Santa givinga warning shot~

One is going over the bow tonite. He is always a bit cryptic and uses a fair amount of guise in his writings.

Looks like the gang from Davos might have put together a plan ?


argent rampant
Jan 30, 2012 - 9:06pm

Doesn't really sound like Santa to me...

sounds more like the setup to one of those "watch this presentation" things from Agora, but I guess we'll see.

Jan 30, 2012 - 9:09pm

please keep checking Santa

He says he'll post the audio later this evening.

argent rampant
Jan 30, 2012 - 9:11pm

Oh, I see

that actually IS a post from jsmineset. Well, this is interesting!

Nick Elway
Jan 30, 2012 - 9:11pm

Was Sinclair possessed by Agora/Stansberry spirit?

@betterand I agree, doesn't sound like Sinclair ..

Maybe the GFMA that Blythe just became head of?

I'll be checking for the audio!

Dr G
Jan 30, 2012 - 9:12pm

Blythe is now the head of the

Blythe is now the head of the global blah blah blah finance blah blah blah commodities blah blah organization.


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